The K Wave

by David Knox Barker

The potential existence of a long-wave economic cycle of prosperity and depression has been the topic of much discussion among scholars, economists and financial analysts for years. The most compelling evidence supporting this 50- to 60-year cycle occurring in the free market economic systems was first offered by a Russian named Nikolai Kondratieff in 1926. His Kondratieff Wave, shortened and popularly known as the K Wave, has gained adherents since that time. Kondratieff's prediction of the great economic crash and ensuing worldwide depression of the late 1920's and early 30's, and of the revitalization of Western-style economies in the years following has proven astoundingly accurate. As his theories continue to be borne out today, K Wave supporters now warn against an impending worldwide depression and speculate upon which major economy will be the first to fall, which will emerge stronger than ever, and when, precisely, this worldwide economic sea-change will occur. For those wise